SB-0579 Summary

• Expands definitions of "blighted property" to include property owned by land bank fast track authorities, and clarifies that sales or transfers of tax-reverted property do not affect its blighted status for brownfield purposes.

• Adds new eligible activities for brownfield redevelopment including infrastructure improvements, demolition, lead/asbestos abatement, site preparation, and assistance to land bank fast track authorities in clearing title and acquiring property for economic development.

• Creates opt-out provisions allowing taxing jurisdictions to exempt their taxes from capture when a qualified facility (140+ acre landfill with recycling and asphalt facilities) is included in a brownfield plan.

• Provides special protections for public library millages levied before January 1, 2016, allowing them to remain exempt from tax increment capture unless the library board voluntarily agrees otherwise through written agreement with the authority.

• Allows library boards to opt in or opt out of tax capture for library millages approved after December 31, 2015, subject to written agreement with the brownfield authority and chief executive approval where applicable.